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Monday, November 07, 2011 11:41:55 AM
Look at BUCS filings. These have taken them months to do. OTCMarkets.com gives daily updates on what companies have moved between the tiers, and looking at these gives a good understanding of what the timeframe anticipated to get things done is.
Remember that Bayport was told at the first of September what the rules are for a Current Reporting company to rid themselves of the CE sign and did what they were told.
Once they were informed that it was not that way, it was the middle of September and have been working on correcting this. This meant interviewing and hiring a CPA and an attorney. Having a face to face meeting with the attorney. Receiving solid checklist from OTCMarkets and the attorney on what is required. Providing the CPA with every scrap of paperwork for expenses, revenues and assets from the beginning of the year. Having the CPA compile this data into a year to date and quarterly reports. Having a "Disclosure Statement" created incorporating as much past data that can be realized.
The "drama" that has occurred here is partly due to shareholder ignorance (IMO) and is combined with the company not really understanding the magnitude of the task they have undertaken.
Most penny investors have never been part of a company going from STOP or YIELD to fully reporting and have no clue as to what is needed. I have watched 3 companies go from true STOP to Current over the last 2 years (while invested) and every one took 2+ months to complete the task.
While I wish that my trading account would miraculously double each and every time I buy shares of a company I realize that won't happen. All I did was buy shares in the open market from someone who was just as convinced they would decline in value as I was convinced that they would appreciate.
So what we have now is a battle of patience. Those of us who are planning on taking this ride to the end destination are not at all concerned, as we have charted progress, and that has been realized according to the NORMAL timeframes that other companies have achieved Current Status.
There is nothing taking forever here, except for people who are looking to flip in and out and have now found their money is "tied up" and they feel it could be "working for them" better elsewhere.
To those, I have to say sorry about your luck. To the true longs who are not whining every day about this not moving, I say CONGRATULATIONS. We have seen only 1 day where there was a selloff and look! We are back where it was pre-selloff. And that person stated it was them and apologized as he had an emergency forcing him to vacate his position.
So the long and short of this is your timeframes were way off. You've stated that in 4 months nothing has happened but in reality the pps here has gone from .003 at the merger news to .012 for a 400% GAIN and has retraced back to .0075 where it is now, which is a 150% GAIN.
So those of us who bought in PRE R/M are still up massively on our original purchases. Am I happy? DAMN STRAIGHT I AM! I'm smiling EVERY DAY over this one!
Scratch off the broken skin, tear into my heart and make me do it again yeah..
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